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Economic Systems
Economic Systems
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Economic Systems
Flashcards
10 cards
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Questions
10
Answers
1
This economic system would have a very low unemployment rate.
Command
Traditional
Mixed
Market
2
Prices are influenced by supply and demand.
Traditional
Mixed
Command
Market
3
Considered synonymous with a capitalistic economy.
Mixed
Market
Traditional
Command
4
Individual freedom is limited.
Command
Market
Traditional
Mixed
5
An economic system that combines elements of all the other basic systems.
Market
Mixed
Traditional
Command
6
Privately owned factors of production
Mixed
Market
Command
Traditional
7
Individual purchasing decisions determines the types of products and services offered.
Traditional
Command
Market
Mixed
8
An economic system heavily influenced by habits, customs, and religious beliefs.
Market
Traditional
Mixed
Command
9
Considered synonymous with either a communist or socialist economy.
Command
Traditional
Market
Mixed
10
Government owns natural and capital resources.
Mixed
Traditional
Command
Market
